Managing Technology in Your Brokerage

While every broker understands how important technology is to an increasingly younger home buying audience, managing the selection and use of technology in your brokerage can be a challenge to say the least. With real estate software vendors, advertising agencies, mobile apps, and website technology issues all competing for your time, it can be difficult to get traction on technology initiatives, or even know where to turn for reliable, impartial advice as to what to use, and how to use it.

Technology Management Is A Process 

Often, it feels like there’s a new piece of tech or some hot new real estate marketing strategy coming out every day and brokers are trying to make sense of it all as they consider juggling their technology investments. What brokers must consider is that understanding and managing issues around technology does not require an engineering degree, but it does require a process. A process that can happen regularly, does not take a lot of time, and leverages resources that are truly experts in real estate technology.

The experts at Weichert recommend that you look at your brokerage’s technology on a regular basis.  Look at your technology investments from a few different perspectives:

1. Where am I spending the most money on technology? – You should consider your marketing spends on technology based advertising as a part of this analysis. (ie. Google Adwords, Trulia, Facebook Ads, etc.)
2. What are the most labor-intensive activities inside my brokerage? – How much time does your team spend doing postcards, creating listing presentations, publicizing open houses, getting contracts together, following up with prospects etc.
3. What solutions do I already have, and what are their weak points? Are they expensive? Hard to use? Collecting dust because your agents won’t use them?
4. Leverage your Network as to what new solutions exist, who is using them, and is there a trusted resource to discuss them with? For instance, Weichert Affiliates have access to technology guidance through our training & support teams, regional coaches, and a network of peers that can share experience about what does and doesn’t work in our industry. Whatever your network is, leverage it heavily for opinions about useful technology.
5. Is there a “techie” on your staff that you can charge with evaluating some of the new technology offerings? Some of the younger agents are great to tap for this as they are likely to have a more intimate relationship with technology.

If the selection and use of technology to support your processes is too often the thorn in your side or you feel like you can’t keep up, affiliation with one of the larger real estate brands can be a tremendous resource in this area. They take that burden off your plate, freeing you up to focus on other things related to running your brokerage. Weichert, for example, is continuously improving existing technology and evaluating new ones to ensure it’s using and providing the most efficient and effective techniques for managing real estate business. Affiliates are given access to these technology tools, such as our online marketing resource center, paperless transaction management system and our WeichertPRO CRM tool.

Developing A Productive, Successful Relationship with Tech 

As a broker, you’re a relationship builder. So, it’s key to build a “relationship” with the technology you use and your process for evaluating it. The brokerage that makes effective use of technology is one that will develop into a real force to be reckoned with now and in the future. A brokerage with well-integrated technology will have a more efficient workflow, smarter online real estate marketing tools, and timely, consistent follow-up. Furthermore using effective, up-to-date technology can lead to higher agent retention, better productivity, and more efficient team dynamics. And who doesn’t want that?

Real estate is ultimately a face-to-face industry and Weichert firmly believes that technology will never replace a handshake – but we also understand how the real estate industry is changing – and we want to deliver the best of both worlds in order to help build stronger, more effective brokerages. If you share this vision, get in touch with us today at https://www.weichertfranchise.com and let our team show you some technology solutions that can help take your brokerage to the next level.

Original content posted on https://www.weichertfranchise.com/online-real-estate-marketing/managing-technology-brokerage/

Franchise Success Spotlight: Weichert® Affiliate Brandon Long

While they haven’t yet isolated the gene for real estate success, Weichert affiliate Brandon Long may be the perfect test subject. Brandon inherited his mother’s love for the real estate industry and more than a little of her drive for success as well.

“I grew up in a real estate family,” mused Brandon, on a typical busy day that took him between two of the four offices of Weichert, Realtors® – The Griffin Company, in northwest Arkansas. “My mother started a brokerage back in 1974 when I was just 4 years old. In those days, you could just get a license and open a storefront.  She’s been at it ever since and is still the largest independent broker in her market.”

When he was in his late twenties, Brandon took the plunge and got his real estate license, too. After a few years as an agent, Brandon knew that owning his own brokerage was where he wanted to be. Brandon and his good friend Carter Clark, started an independent brokerage focused on the residential market in and around the Northwest corner of Arkansas in 2003. “Our market is in an area with some of the largest corporate headquarters in the county. Walmart and Tyson Foods are based here and every vendor that sells to them has a presence in the local area,” notes Brandon.  “We are in a beautiful corner of the state and many of those employees decide they want to settle out here.”

While achieving some growth from 2003 to 2007, the housing crash propelled Brandon and Carter to consider some of the challenges they were facing as an independent brokerage in a highly competitive market.  “Recruiting and training agents was a big challenge for us,” says Brandon, “We had nothing formal and weren’t sure how to develop it.”  By late 2007 it was getting harder and harder for them to see a way forward. They decided to consider a franchise relationship.

Due Diligence

In researching possible franchise affiliations, Brandon and Carter looked at literally every real estate company out there. “It came down to Weichert and one other company,” says Brandon, “We chose Weichert because they were the only company that really cared about how we would make a profit.”

In late 2007 they signed on with Weichert Real Estate Affiliates, Inc.  In their first couple of years, which was in the midst of the housing crash, the brokerage grew from 20 to about 70 agents. Their success did not go unnoticed by other local brokers and they were presentedwith an opportunity to merge with another large brokerage in the area. The Weichert corporate team assisted with due diligence throughout the merger and Weichert, Realtors® – The Griffin Company was born. With the help of Weichert and through other acquisitions over the subsequent years, the brokerage grew steadily. In January of 2018, their company will open its fourth office in Fort Smith, adding another 35 agents to the roster.

The Weichert® System Today

As a franchisee for a decade, Weichert, Realtors® – The Griffin Company continues to derive great value from the relationship with Weichert.  Some of their favorite benefits include the Weichert Listing Presentation system aka “DOORS”, which has become an indispensable part of the agent selling process. The sales team uses it on almost every listing presentation. In addition to creating a powerful and accurate presentation, DOORS is facilitated by online tools provided by Weichert which make creation of the material easy. “If I go up against another broker with our Doors presentation vs. whatever they bring, I’ll win the listing 95% of the time,” says Brandon.

For Brandon, another great benefit of the Weichert affiliation has been the coaching and training–for Brokers. “I’m always learning something from Weichert Training.  I never miss the “Saw Sessions” and I’ve gone three times to the Weichert Management Academy.” The endless opportunities for coaching and learning through Weichert continue to allow the company to stay ahead of changes, technology and opportunities in the industry.

But according to Brandon, no discussion of the Weichert System would be complete without mentioning the Weichert Lead Network. “We develop a huge amount of opportunities through the Weichert Lead Network. In 2017 we anticipate that 90-100 closings will happen through these leads.”  Brandon points out that the National Association of REALTORS® says on average it takes 48 hours for agents to respond to leads and 50% get no response at all.  According to Brandon, “With the Weichert lead acquisition and technology systems, the leads are pre-screened and transferred to a live agent on my team within 3-5 minutes of receiving a call or online form. This makes an enormous difference in our ability to be first in our market.”

The Results

In 2007, Brandon’s brokerage was looking at the most depressed housing market in a lifetime. After instituting the Weichert System, he was able to more than triple his agent team in just under two years. His success attracted opportunities. After a merger, and several acquisitions later, Weichert, Realtors® – The Griffin Company has increased its agent count by almost tenfold since it affiliated, has 4 offices in northwest AR, and business is booming.

Brandon sums it up this way, “We couldn’t have survived without Weichert and we continue to succeed because of their active commitment to our success.”

Visit Brandon and the team at http://www.weichertgriffin.com/

For more information on franchise opportunities with Weichert Real Estate Affiliates, Inc. visit https://www.weichertfranchise.com/

Original content posted on https://www.weichertfranchise.com/blog/franchise-success-spotlight-weichert-affiliate-brandon-long/

Lighting A Fire: How to Keep Real Estate Agents Motivated

Real estate is both a rewarding and challenging profession. Associates are constantly learning and are highly knowledgeable about local community issues and the national economy. While every transaction is unique, helping people achieve their dream of homeownership is a gratifying experience that never gets old. The passion your agents have for the real estate industry is why many home buyers and sellers choose your company over your competitors. Just like a high-performance engine needs an occasional tune-up to continue performing at optimal level, your agents also need some regular coaching and encouragement from you to stay motivated and achieve the best results for your brokerage.

Get To Know Your Agents

As a successful broker, you probably have a team of agents with diverse personalities. While a pep talk during an office meeting may fuel the enthusiasm of some agents for weeks, others respond to a one-on-one conversation with you about their individual business plans and revenue-based goals. You or your manager should regularly schedule a time to meet with each of your agents personally to discuss their current clients and transactions that are in progress. This also provides the management team an opportunity to learn more about them and their lifestyle. Understanding your agents helps know how to best to motivate each one of them and lend your experience where needed on deals that are in progress.

Acknowledge Their Strengths and Accomplishments

Recognition is one of the most effective methods of motivating your team. Everyone wants to be appreciated and respected, especially younger, or new to the industry agents. These agents in particular will need encouragement as they exrealerience the normal initial disappointments and setbacks of the selling process. Let them know you recognize that they have the potential to be exceptional real estate agents, while gently coaching them toward best practices.  Make a big deal of their first sale, and let them know they have a safe, professional home within your brokerage.

It is also important to let your experienced top producers know how much you appreciate them. Reliable agents who always do well can too easily be taken for granted. Allow them to mentor junior agents, as a sign of how much you respect their abilities.

Maintain a Great Work Environment – Every Day.

Motivating agents is not something that you can write on your to-do list and achieve in one day. Agents have different temperaments and they have good days and bad days. Brokers should strive to maintain a positive company culture that fosters agents’ creativity, teamwork, and passion for their profession. At Weichert, we have seen that the workplace culture of a brokerage often reflects a brokers’ personality. When thinking about motivating agents, be sure to take some time each day to remind yourself why you started a real estate brokerage and acknowledge that you have accomplished a lot of great things. Part of motivating agents is taking care that you are also motivated and feel good about the job you are doing, and the positive difference you are making in the lives of your agents, and the lives of your clients.

At Weichert, we know a few things about building motivated real estate team. We know that Realtors working together can accomplish great things. Our real estate franchise system is created by brokers, for brokers. For information on the benefits of partnering with Weichert, visit https://www.weichertfranchise.com/ .

Original content posted on https://www.weichertfranchise.com/real-estate-coaching/lighting-fire-keep-real-estate-agents-motivated/

Don’t let Leads Go Cold Part 2 – Have a Follow Up Process

In Part 1 of this series about keeping leads warm we discussed the new definition of “responsive” and the importance of being that first conversation with a lead. In the second part of the series our focus moves beyond responsiveness and answers the question: “How do we nurture and leverage all the contacts we make even when they aren’t ready to engage?”

Facts About Lead Follow Up

A study by the Harvard Business Review found that most businesses fall into a pattern of neglect when it comes to leads. They waste about 71 percent of leads by not following up or stopping contact too soon. Then consider that lead-to-close rates in real estate sales run between 1% and 5% in most studies and you begin to see why every contact is precious. For every 100 contacts an agent gets, they will do a deal with 1 to 5 people. If an agent is not engaging every contact and their close rate is at the lower end of that scale, they are doing themselves a disservice and limiting their income potential.
The message here is clear for brokers and their agents: Even if the vast majority of leads do not immediately turn into transactions, each new lead should be treated with a sense of urgency and pursued as if it is coming from a ready, willing, and able home buyer or seller. Most experienced real estate professionals we talk to understand this intuitively, yet many of those same individuals struggle with both the timeliness and the consistency of this follow up for all but the most promising opportunities.

Contacts are Investments

Timely response to leads makes the prospect feel appreciated and makes the impression that you are a highly responsive professional. But how do you nurture contacts who are not ready to move forward?  Here are a few ideas from the team at Weichert Real Estate Affiliates.

1. The contact information of the person can be added to your CRM system for periodic email contact and promotion. The more information you can record about the individual in your initial conversation, the better. This includes address, profession, reason for the contact, family members, ages, even birthday’s or anniversary’s if possible.
2. They can be encouraged to like your office or business Facebook and Instagram Pages, increasing the reach of social media marketing efforts.
3. Things like birthdays can be put into your CRM system so best wishes can be sent as a reminder that you are there for them.
4. Send them a hand written card in 6 months reminding them of your conversation in some way. They’ll be impressed that you haven’t forgotten them and the personal touch will be appreciated.
5. A newsletter can be mailed or emailed to them periodically to stay front of mind.
6. They can be personally invited to open houses, improving the pool of potential homebuyers for all such activities inside your brokerage.
7. Host a home buying/selling seminar and invite them to attend.

All this nurturing is done by the most successful associates and creates the kind of relationship that can lead to an active lead, when the prospect is finally ready to move forward.

Nurturing Contacts Efficiently

As Brokers, we need to focus on helping our agents close sales and often the time required for good follow up on everyone else is hard to come by.  Nurturing leads tends to slip as a priority when faced with clients active in the home search or the offer stage. That’s why having both a regular process and tools for lead nurturing can be so valuable to brokers and agents. An obvious aide to efficient lead nurturing is a good Real Estate CRM.  As an example, Weichert offers its proprietary system to all affiliates called Weichert®PRO. This system is tied directly into our national lead generation technology, enabling both brokers and agents to effectively manage more leads and clients. Things like planning, promotion and follow up from an open house are facilitated within the tool, leveraging software designed specifically for that. Email campaigns can be configured to regularly stay in contact with everyone on your contact list. Even personalized ones can be easily generated for birthdays and anniversaries etc.

But perhaps most important is the use of a specific process for lead follow up that is timely, efficient, and personal. For instance, at Weichert we have developed a system for nurturing that is actually supported by our CRM tool. The tool perfectly aides this process, and your team can define highly effective nurturing campaigns, while spending less than ½ hour a week to keep those leads from going cold.

Follow Up Makes a Big Difference

Whether it is a phone call after an initial meeting or a handwritten note expressing gratitude for the opportunity to earn their business, small gestures do mean a great deal. It’s definitely the Weichert Way. When you make a personal connection with leads early, it increases the effectiveness of all future communications and lays the groundwork for a successful long term relationship.

If you would like information on how your brokerage can benefit from the training and lead nurturing tools provided by Weichert, Contact our team at https://www.weichertfranchise.com  today.

Original content posted on https://www.weichertfranchise.com/blog/dont-let-leads-go-cold-part-2-follow-process/